OpenAI board rejects Musk’s $97.4 bn offer

Reuters

Seattle, Updated At : 04:36 AM Feb 16, 2025 IST

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OpenAI on Friday rejected a $97.4 billion bid from a consortium led by billionaire Elon Musk for the ChatGPT maker, saying the startup is not for sale and that any future bid would be disingenuous.

The unsolicited approach is Musk’s latest attempt to block the startup he co-founded with OpenAI CEO Sam Altman from becoming a for-profit firm, as it looks to secure more capital and stay ahead in the AI race. Musk’s lawyer responded that OpenAI is putting control of the for-profit enterprise up for sale and will “enrich its certain board members rather than the charity.”

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